FedEx Express - Flint, MI
4455 Linden Creek Pkwy Flint , MI 48507-2943

FedEx Express - Flint, MI - industrial for sale

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Overview


FedEx distribution and shipping center for sale, a 57,522 sq. ft. property in the Linden Creek Business Park, near Interstates 69 and 75 with direct access to Detroit. The Property is leased to Federal Express Corporation (the Tenant), a publicly traded, investment-grade delivery services company (S&P: BBB). FedEx originally leased the property in December of 1997 and has since extended the lease twice, demonstrating their long-term commitment to the location. The Property is located less than one mile from the Bishop International Airport, which hosts FedEx, and serves as a transfer facility and FedEx Shipping Center. FedEx most recently extended the lease an additional ten years in December of 2017 and has two 5-year options to extend. This investment represents an exceptional opportunity to acquire a distribution and shipping center leased to an investment grade tenant on a long-term lease.

Investment highlights


  • Fee simple interest
  • Property is leased to the Federal Express Corporation and has been since 1997 
  • Lease was extended in 2017 for a 10-year term and has two 5-year options to extend
  • Set in Linden Creek Business Park with 1.8 million sq. ft. of warehouse distribution space that is 100% occupied
  • Current owner made property improvements prior to the most recent lease extension including new water heaters, entryways, paint and flooring
General
Property type Industrial
Property subtype Distribution/Warehouse
Tenure type Sale/Purchase
Property address 4455 Linden Creek Pkwy, Flint, MI 48507-2943
Land in acres 5.47
Building size 57,522  ft2
Year built 1997
Financial
Price $5,044,000
Cap rate 6.50%
Current NOI $327,876.00
Lease
Tenant's name FEDEX Corporation
Guarantor FEDERAL EXPRESS Corporation
Credit rating (S&P) BBB
Credit rating (Moody's) Baa2
Lease type NN
Lease expiration date 11/30/2027
Remaining term 8Yrs

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